Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Make In India

Sunil Kant Munjal Stepped Down as Hero MotorCorp Chief

author-image
SMEStreet Desk
18 Aug 2016 03:02 IST

Follow Us

New Update
Sunil Kant Munjal, Hero Cycle, Manufacturing, Automobile, Automotive

India's leading two-wheeler manufacturer - Hero MotoCorp informed in an official statement at the BSE that Sunil Kant Munjal has stepped down as the promoter of the company with effect from August 16.

MUMBAI: Sunil Kant Munjal's tenure as Joint Managing Director of the company ends on August 16, 2016. He has also resigned from the Board of Directors of the Company with effect from the same date, the company said in a regulatory filing, with reference to an earlier letter dated July 27.

In addition, we have received a communication from the individual promoters of the company stating that pursuant to the aforesaid realignment, Sunil Kant Munjal will henceforth, not be classified as a promoter of the company.

However, the statement pointed out that Munjal will continue to hold 32,500 equity shares of the company representing 0.02 per cent of the issued and paid up share capital of the company in his individual capacity.

In a regulatory filing dated July 27, 2016 regarding realignment of business interests amongst the promoters of the company, Munjal had expressed his desire to step down from the Board of Directors of Hero MotoCorp, once his tenure as the Joint Managing Director of the Company comes to an end on August 16, 2016.

This realignment will not impact the overall promoter shareholding, strategic direction or operational management of the company, the earlier regulatory filing had stated.

Automotive Automobile Sunil Kant Munjal Hero MotorCorp Manufacturing
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!